The 'A+' rating on Puyallup, Wash.'s GO bonds reflects the following credit strengths: Good financial performance, Above-average wealth levels, Continued growth of the tax base, and The city's participation in the diverse Seattle-Tacoma area economy. The bonds are secured by the city's GO and unlimited ad valorem taxes. The bonds were issued for the construction of a new library and represent the entire authorization approved by voters in September 1999. Puyallup is located about seven miles southeast of Tacoma and 20 miles south of Seattle. The city is a suburban-residential community with increasing trade and commerce activity based in agriculture, retail sales, and light industry. Population has grown a moderate 3.7% annually since 1999 to an estimated 35,490 in 2003.
